BANKING | ECONOMY CURRENT AFFAIRS
National Mission for Financial Inclusion (NMFI)
The National Mission for Financial Inclusion (NMFI) is implemented as the Pradhan Mantri Jan Dhan Yojana (PMJDY), launched in 2014.
It focuses on:
- Providing bank accounts to unbanked households
- Expanding access to credit, insurance, and pension services
- Strengthening financial inclusion through the JAM Trinity (Jan Dhan–Aadhaar–Mobile)
The JAM framework enables seamless Direct Benefit Transfer (DBT), reducing leakages and ensuring efficient delivery of government subsidies and welfare benefits.
GOVERNMENT SCHEMES CURRENT AFFAIRS
Initiatives to support MSMEs and boost their competitiveness in global value chain
The Government has introduced multiple initiatives to strengthen MSMEs globally:
- Export Promotion Mission (EPM):
- Niryat Protsahan: Financial incentives
- Niryat Disha: Trade facilitation and ecosystem support
- Credit Guarantee Scheme for Exporters:
- Provides collateral-free credit support
- Reduces financial risk for exporters
- International Cooperation Scheme:
- Promotes global exposure, partnerships, and technology exchange
Together, these initiatives enhance MSME participation in global value chains, improve export capacity, and support economic growth.
Small Hydro Power (SHP) Development Scheme
The Union Cabinet has approved the Small Hydro Power (SHP) Development Scheme for FY 2026–27 to 2030–31 with an outlay of ₹2,584.60 crore. The scheme aims to add around 1,500 MW of clean energy capacity and is expected to mobilise ₹15,000 crore in investments from both public and private sectors.
It focuses on developing small hydro projects (1–25 MW capacity), especially in remote and difficult regions such as the North Eastern states, hilly areas, and border districts where untapped hydro potential exists, while promoting clean energy and sustainable development. Key features include:
- Outlay: ₹2,584.60 crore
- Duration: FY 2026–27 to FY 2030–31
- Target: Addition of 1,500 MW capacity
Bharat Audyogik Vikas Yojna (BHAVYA) Scheme
The Union Cabinet has approved Bharat Audyogik Vikas Yojana (BHAVYA), a government initiative to develop 100 plug-and-play industrial parks across the country, providing ready-to-use infrastructure for industries.
The scheme aims to boost manufacturing, investment, and employment, making India more competitive in global value chains.
Key features include:
- Outlay: ₹33,660 crore,
- Focus on enhancing manufacturing competitiveness, investment, and employment generation.
- Builds on success of National Industrial Corridor Development Programme (NICDP)
- Implemented through Centre–State–private sector collaboration
ENVIRONMENT CURRENT AFFAIRS
India Submits First National Report on Nagoya Protocol (ABS)
The Ministry of Environment Forest and Climate Change (MoEFCC), in collaboration with the National Biodiversity Authority (NBA), has submitted India’s First National Report (NR1) on the implementation of the Nagoya Protocol to the Convention on Biological Diversity Secretariat under Article 29.
- The report covers the period November 2017 to December 2025 and highlights India’s progress in Access and Benefit Sharing (ABS), contributing to Target 13 of NBSAP.
- India’s ABS framework is governed by the Biological Diversity Act, 2002, supported by updated rules and regulations, and implemented through a three-tier structure involving NBA, State Biodiversity Boards, and local Biodiversity Management Committees.
India’s 7th National Report to Convention on Biological Diversity
India submitted its Seventh National Report (NR-7) to the Convention on Biological Diversity as mandated under Article 26. The report evaluates India’s progress in achieving the objectives of the CBD and aligns with:
- National Biodiversity Strategy and Action Plan (NBSAP 2024–2030)
- Kunming Montreal Global Biodiversity Framework (KMGBF)
It reaffirms India’s commitment to:
- Conservation of biodiversity
- Sustainable use of resources
- Equitable benefit sharing (ABS)
Green Credit Programme
The Green Credit Programme (GCP), launched by the Ministry of Environment Forest and Climate Change, is designed to encourage sustainable practices through incentives.
Participants earn Green Credits (GCs) for activities such as:
- Increasing green cover
- Reducing carbon emissions
- Restoring degraded ecosystem
These credits are tradable, creating a market-driven mechanism for environmental conservation. The initiative aligns with Mission LiFE, promoting eco-friendly behaviour at both individual and community levels.
REPORTS AND INDICES CURRENT AFFAIRS
Rapid Survey on Functional Cooperatives (RSFC)
The Rapid Survey on Functional Cooperatives (RSFC) will be conducted from April 2026, at the request of the Ministry of Cooperation. It will be conducted by the National Statistics Office (NSO), under the Ministry of Statistics and Programme Implementation (MoSPI) to provide key economic indicators for the cooperative sector.
It will generate estimates on:
- Gross Value Added (GVA)
- Gross Value of Output (GVO)
- Employment levels
The survey covers 30 cooperative sectors and uses the National Cooperative Database (NCD) for sampling. Its primary goal is to support data-driven policymaking and improve the performance of India’s cooperative institutions.
PLFS Monthly Bulletin – February 2026
The National Statistics Office (NSO) under the Ministry of Statistics and Programme Implementation (MoSPI) has released the Periodic Labour Force Survey (PLFS) Monthly Bulletin for February 2026. PLFS is India’s primary source of data on employment and unemployment trends.
From January 2025, the methodology has been revised to provide more frequent and timely labour market data, introducing monthly and quarterly estimates. PLFS now releases monthly bulletins containing:
- LFPR (Labour Force Participation Rate)
- WPR (Worker Population Ratio)
- UR (Unemployment Rate)
Horticulture Estimates (2024–25 Final & 2025–26 First Advance)
The Ministry of Agriculture and Farmers Welfare has released the Final Estimates for 2024–25 and First Advance Estimates for 2025–26 of horticulture crops. India’s total horticulture area increased from 290.86 to 301.36 lakh hectares (↑3.61%), while production rose from 3547.44 to 3707.38 lakh tonnes (↑4.51%) in 2024–25. For 2025–26, production is estimated at 3708.46 lakh tonnes.
In the fruits sector, production grew to 1176.49 lakh tonnes (↑4.13%), while vegetables recorded a stronger rise to 2177.97 lakh tonnes (↑5.11%). These trends highlight India’s growing horticulture sector, contributing significantly to food security, nutrition, and farmer income diversification.